The USD/INR futures pair has support at 83.10 levels whereas resistance is placed at 83.50 levels - Monarch Networth Capital
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CURRENCY TECHNICAL OUTLOOK
* The USD/INR futures pair has support at 83.10 levels whereas resistance is placed at 83.50 levels. The pair is expected to range bound until either side level is breached
* The EUR/INR futures pair has support at 91.50 levels whereas resistance is placed at 91.90 levels. The pair is expected to find resistance at higher level and trade weak below 91.50 level up to 91.40 and 91.30 levels
* The GBP/INR futures pair has support at 105.60 levels whereas resistance is placed at 106.00 levels. The pair is expected to find resistance at higher level and trade weak below 105.60 level up to 105.50 and 105.40 levels
* The JPY/INR futures pair has support at 58.90 levels whereas resistance is placed at 59.20 levels. The pair is expected to find resistance at higher level and trade weak below 58.90 level up to 58.80 and 58.70 levels
Strategy: Intraday
* EURINR pair traded with negative bias in the last trading session; and prices are trading below upward trend line.
* The pair is likely to trade with negative bias and any pullback near immediate resistance of 91.90 level should be taken as selling opportunity targeting 91.50 – 91.40 levels on lower side
* For Intraday session, it has support at 91.50 – 91.40 levels whereas resistance is placed at 91.90 – 92.00 levels
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